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bet at home.com
(XETRA:ACX)
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Rating:50Neutral
Price Target:
€3.00
▼(-10.98% Downside)
Action:Reiterated
Date:10/01/26
Overall score reflects a strong, low-debt balance sheet offset by volatile profitability and especially weak recent cash flow (negative operating/free cash flow), which raises durability risk. Technical indicators add a modest drag (below key moving averages with negative MACD), and valuation (P/E ~25 with no dividend yield provided) does not appear compelling enough to outweigh the fundamental uncertainty.
Positive Factors
Low Leverage
Conservative financing gives the company a meaningful buffer against earnings volatility and reduces pressure from interest obligations. The sizable equity base can support continued operations and preserve strategic flexibility during weaker trading periods or while profitability remains uneven.
Negative Factors
Sharp Revenue Decline
A sharp annual revenue contraction weakens operating leverage and makes the recent profit recovery less dependable. Sustained top-line pressure could reduce the scale benefits of the platform, constrain marketing and product investment, and make future earnings more sensitive to customer activity.
Read all positive and negative factors
Positive Factors
Negative Factors
Low Leverage
Conservative financing gives the company a meaningful buffer against earnings volatility and reduces pressure from interest obligations. The sizable equity base can support continued operations and preserve strategic flexibility during weaker trading periods or while profitability remains uneven.
Read all positive factors
bet at home.com (ACX) vs. iShares MSCI Germany ETF (EWG)
Market Cap
€21.83M
Dividend Yield6.18%
Average Volume (3M)2.96K
Price to Earnings (P/E)24.5
Beta (1Y)0.41
Revenue Growth-12.06%
EPS Growth47.14%
CountryDE
Employees98
SectorGeneral
Sector StrengthN/A
IndustryGambling, Resorts & Casinos
Share Statistics
EPS (TTM)0.12
Shares Outstanding7,018,000
10 Day Avg. Volume3,687
30 Day Avg. Volume2,957
Financial Highlights & Ratios
PEG Ratio-0.04
Price to Book (P/B)0.59
Price to Sales (P/S)0.41
P/FCF Ratio-10.44
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)0.44
Revenue Forecast (FY)€52.10M
bet at home.com Business Overview & Revenue Model
Company Description
Operating across Europe, bet-at-home.com AG, along with its various subsidiaries, delivers a comprehensive suite of online gambling and sports betting services. The company's diverse offerings span traditional and in-play sports wagering, a robust...
How the Company Makes Money
bet-at-home.com AG primarily generates revenue from online gambling activities offered through its platforms. The core revenue stream is sports betting, where the company earns money through the built-in margin in odds (the difference between the ...
bet at home.com Financial Statement Overview
Summary
Income Statement
44
Neutral
Balance Sheet
78
Positive
Cash Flow
38
Negative
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 45.45M | 36.86M | 41.59M | 36.09M | 42.04M | 47.56M |
| Gross Profit | 26.19M | 0.00 | 41.59M | 17.38M | 26.70M | 33.99M |
| EBITDA | 1.69M | 841.00K | -1.84M | 855.00K | 2.10M | 13.86M |
| Net Income | 922.00K | 2.27M | -4.45M | -1.50M | 11.91M | -16.31M |
Balance Sheet | ||||||
| Total Assets | 0.00 | 48.89M | 52.68M | 56.78M | 62.66M | 75.78M |
| Cash, Cash Equivalents and Short-Term Investments | 36.29M | 27.89M | 33.67M | 34.65M | 35.33M | 41.99M |
| Total Debt | 0.00 | 1.06M | 1.41M | 1.73M | 1.88M | 1.69M |
| Total Liabilities | -25.26M | 23.63M | 29.69M | 29.34M | 33.71M | 58.74M |
| Stockholders Equity | 25.26M | 25.26M | 22.99M | 27.44M | 28.95M | 17.04M |
Cash Flow | ||||||
| Free Cash Flow | 0.00 | -1.44M | 792.00K | 133.00K | -5.96M | 8.60M |
| Operating Cash Flow | 0.00 | -1.44M | 792.00K | 104.00K | -5.02M | 10.49M |
| Investing Cash Flow | 0.00 | -94.00K | 18.00K | -343.00K | -874.00K | -1.90M |
| Financing Cash Flow | 0.00 | -327.00K | -329.00K | -498.00K | -770.00K | -18.42M |
bet at home.com Technical Analysis
Neutral
3.37
Price Trends
3.22
Negative
3.24
Negative
2.78
Positive
Market Momentum
-0.05
Positive
46.02
Neutral
44.22
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For DE:ACX, the sentiment is Neutral. The current price of 3.37 is above the 20-day moving average (MA) of 3.17, above the 50-day MA of 3.22, and above the 200-day MA of 2.78, indicating a neutral trend. The MACD of -0.05 indicates Positive momentum. The RSI at 46.02 is Neutral, neither overbought nor oversold. The STOCH value of 44.22 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for DE:ACX.
bet at home.com Peers Comparison
UnderperformOutperform
Sector (55)
DE:ACX
bet at home.com
3.05
0.42
15.97%
DE:TIMA
ZEAL Network
40.10
-7.39
-15.57%
bet at home.com Corporate Events
Financial Disclosures
Bet-at-home.com Sets Date for Half-Year 2026 Financial Report
Neutral
Sep 15, 2026
Bet-at-home.com AG, an online sports betting and gaming provider headquartered in Düsseldorf, operates its wagering and entertainment services through web-based platforms. Its shares trade on the regulated market in Frankfurt and multiple Ger...
Business Operations and StrategyProduct-Related Announcements
Bet-at-home.com Launches New “Casinoro” Brand to Expand European Online Casino Reach
Positive
Sep 9, 2026
Bet-at-home.com AG is expanding its online casino activities beyond Germany by launching a new brand, “Casinoro,” operated by its Maltese subsidiary bet-at-home.com Europe Ltd. The Casinoro platform will run on a separate website under...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.